Financial Performance - The group recorded a total revenue of approximately RMB 1.495 billion, representing a decrease of about 8.73% compared to the previous fiscal year[16]. - The group experienced a significant decline in revenue from blasting and mining operations due to the termination of the Tibet Huatai Long project in the third quarter[5]. - The asset-liability ratio improved to 20.72%, down from 30.39% in the previous year, indicating a healthier financial position[27]. - The group maintained stable sales figures by adjusting the pricing strategy for civil explosives, despite a decrease in sales volume[13]. - The group has not made any significant investments during the fiscal year, consistent with the previous year[24]. - The group remains confident in maintaining stable business scale despite increasing competition in the domestic civil explosives industry[13]. - The group's borrowings amounted to RMB 142,218,000, a decrease from RMB 193,778,000 in 2022[28]. - No interim dividend was declared for the year, compared to HKD 0.010 per share in 2022[31]. - The board has proposed a final dividend of HKD 0.010 per share, consistent with the previous year[52]. - The company proposed a final dividend of HKD 0.01 per share, sharing the benefits of stable development with all shareholders[136]. Mining Operations - The company has mined a total of 811,000 tons of ore during the year, including 535,000 tons of copper-gold ore with an average grade of 0.70 g/t gold and 0.40% copper[53]. - The company processed a total of 1,046,000 tons of ore with an average grade of 12.6% sulfur, 0.31% copper, 0.57 g/t gold, and 17.3% iron[53]. - As of March 31, 2023, the company reported a total of approximately 549 million tons of mineral resources, with an average grade of 0.16% copper and 0.066% molybdenum[65]. - The company has drilled 83 underground drill holes totaling approximately 8,120 meters for production exploration during the year[54]. - The controlled mineral resources in the western area are estimated at 25.2 million tons with gold at 0.09 g/t, copper at 0.07%, total iron at 10.2%, and total sulfur at 16.7%[38]. - The inferred mineral resources in the western area are estimated at 16.3 million tons with gold at 0.07 g/t, copper at 0.06%, total iron at 8.3%, and total sulfur at 15.9%[38]. - The total possible reserves across eastern and western areas are 10.7 million tons, with total sulfur at 15.8% and copper at 0.3%[45]. - The mining production schedule indicates a lifespan of 13 years, with an annual extraction rate of 1.0 million tons of ore[45]. - The company holds a mining license for the Bangpu molybdenum-copper project, valid until October 15, 2024, covering an area of 2.4189 square kilometers[48]. - The company has completed a feasibility study for the Bangpu mining area, dated October 2022[67]. - The project is expected to have an annual production capacity of approximately 6 million tons of ore, with a design capacity for processing ROM of 6 million tons per year[92][93]. - The total ore reserves reported include 29 million tons of proven reserves with a molybdenum grade of 0.068% and a copper grade of 0.19%[89]. Environmental and Sustainability Efforts - The company aims to reduce emissions and has implemented policies to monitor and manage operational emissions, ensuring compliance with national standards[173]. - The company is committed to achieving zero carbon emissions through strategic measures to reduce reliance on non-renewable energy sources[188]. - The company has established a waste management policy to minimize environmental impact, focusing on hazardous waste disposal[178]. - The company aims to reduce nitrogen oxides (NOx) emissions from 10,833.50 kg in 2022 to 5,865.06 kg in 2023, representing a reduction of approximately 46%[200]. - Sulfur dioxide (SO2) emissions decreased from 18,520.62 kg in 2022 to 14,085.17 kg in 2023, a reduction of about 24%[200]. - Particulate matter (PM) emissions were reduced from 617.28 kg in 2022 to 388.28 kg in 2023, showing a decrease of approximately 37%[200]. - The company has set a target to reduce greenhouse gas emissions by 5% by 2025[200]. - Increased power consumption due to growth in explosive production activities in China and Tajikistan has led to a rise in greenhouse gas emissions during the reporting period[200]. - The company encourages employees to use video and phone conferencing to reduce business travel and vehicle usage[199]. - Initiatives include promoting the use of electric vehicles and planting vegetation to improve air quality and absorb greenhouse gases[199]. - The board has dedicated significant time to assess environmental, social, and governance (ESG) risks and develop relevant policies to address these risks[168]. - The board's oversight includes reviewing progress on ESG-related goals and indicators[170]. Corporate Governance - The company is committed to high levels of corporate governance to protect shareholder interests, adhering to the GEM Listing Rules[96]. - The board of directors consists of eight members, including three independent non-executive directors, meeting the GEM listing rules requirement[117]. - The board held six meetings and one annual general meeting during the year, achieving an average attendance rate of 100% for board meetings and approximately 22% for the annual general meeting[107]. - The company has adopted a strict code of conduct for securities trading, ensuring compliance by all directors and relevant employees[97]. - Independent non-executive directors confirmed their independence annually, ensuring compliance with GEM listing rules[120]. - The company encourages continuous training for directors, covering business operations and regulatory changes[107]. - The board's average attendance rate for meetings was 100%, indicating strong engagement[107]. - The company has mechanisms in place to ensure independent viewpoints are considered in board decisions[105]. - The company has a structured process for the appointment and re-election of directors, ensuring compliance with its articles of association[115]. Strategic Outlook - The group aims to adapt to global economic challenges through strategic business adjustments[14]. - The group is actively seeking business expansion and investment opportunities while maintaining stable management and healthy cash flow[6]. - The company is optimistic about the mineral resource reserves at its Anhui and Tibet mining projects, and it aims to leverage its technical and management capabilities for future growth[140]. - The company anticipates greater challenges in its civil explosives business due to a downturn in the coal market, but lower raw material prices may enhance profit margins[141]. - The company plans to actively adjust strategies to maintain revenue from its civil explosives business while steadily advancing its mining development[141]. - The financial performance of Tibet Tianren has been consolidated into the group's financial statements following a control agreement, marking it as a subsidiary[26]. - The company reported further growth in its mining business during the fiscal year ending March 31, 2023, effectively compensating for the revenue decline in its original civil explosives business[135]. - The main revenue sources for the company include the trade of civil explosives and the provision of blasting services, along with sales related to its mining operations[139].
比优集团(08053) - 2023 - 年度财报